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EQ Resources Limited ( (AU:EQR) ) has provided an announcement.
EQ Resources Limited has announced a significant equity raise of $18.8 million through a share placement, with an additional $1.2 million from a loan conversion into equity. The placement has garnered strong interest from institutional and sophisticated investors, including a major contribution from Oaktree Capital Management, subject to regulatory and shareholder approvals. The funds will be used for capital projects, debt reduction, and working capital, enhancing EQR’s financial position and operational capabilities.
More about EQ Resources Limited
EQ Resources Limited is a global tungsten producer with mining activities in Australia and Spain.
Average Trading Volume: 1,129,877
Technical Sentiment Signal: Buy
Current Market Cap: A$115.6M
For detailed information about EQR stock, go to TipRanks’ Stock Analysis page.